RNR Real Estate Briefs from Realty News Report – WILLIS – MRSS Partners Ltd., a partnership of Satya Inc. and Stolz Partners sold 31.6 acres of undeveloped land near Willis to Fidelis Realty affiliate Market at Willis Associates for future retail development. This land is part of Satya’s 500-acre Moran Ranch development on the east side of Interstate 45 North and FM 1097.
HOUSTON – Miami-based Elandis, which recently acquired Waters at Westchase, a 260-unit multifamily community in Houston, owns 1,000 units in the Bayou City – and it plans to buy more. Built in 1979, Waters at Westchase is located at 11490 Harwin Drive. The acquisition is part of an Elandis joint venture involving London-based M&G Investments and the Libra Group, a multi-national conglomerate. Ted Lawson is COO of Elandis.
HOUSTON – Chicago-based Dayton Street Partners has selected NAI Partners as the exclusive leasing agent for its recently acquired, 90-acre truck terminal at 5800 Mesa Drive in Houston. NAI Partners’ John Simons, Chris Haro and Jack Gilbert are the brokers marketing the terminal on behalf of DSP, which acquired the 500,000-SF property in January.
HOUSTON – A medical office building in the Cypress-Fairbanks community, 11301 Fallbrook Drive, has increased occupancy by 33 percent since being acquired by Partners Capital — the investment arm of NAI Partners. Recent new leases include 6,293 SF for Texas Orthodontic Specialists and 6,983 SF for Touchstone Medical Imaging. Also, 11301 Fallbrook is primarily led by professional women. Kelli Walter of Partners Capital and Lesley Rice of NAI Partners head up the leasing team which includes Andy Parrish and Samantha Doty of NAI Partners’ Landlord Services Division.
HOUSTON – Archway Properties sold a pair of development sites in Park Air 59 in northeast Houston. Enterprise Holdings bought 4.9 acres for a truck rental and used car sales lot. Greater Houston Kidney Clinic purchased 1.4 acres to develop a 20,000 SF medical office project adjacent to the recently opened 22,016 SF Northern Tool + Equipment. Austin Alvis of NewQuest Properties and Preston Cunningham of Cunningham Ventures represented Archway Properties. Neal Thomson of NewQuest handled negotiations for Enterprise.
HOUSTON – Satya sold 1.2 acres of undeveloped land in Cinco Ranch to Xuyen Trang for future development. This is the final parcel of land Satya owned in Cinco Ranch since acquiring 8 acres in 2008. The site is located at the intersection of Mason Road and Fry Road. Joshua Jacobs of Blue Ox Group represented the seller and Lily Loh of LV Realty represented the buyer.
HOUSTON – Harper Brothers Construction leased office space at 2401 Fountainview. Chase Tucker and John Buckley with Finial Group facilitated the transaction.
SPRING – A-1 Mini Storage, a 280-unit self-storage facility composed primarily of climate-controlled units, located at 17536 Stuebner Airline Road in Spring, Texas, has been sold, according to Marcus & Millichap.
HOUSTON –NAI Partners recently arranged the sale of 13744 Pike Road, a 15,525 SF industrial building located in Missouri City. NAI Partners’ Travis Land and AJ Williams represented the seller Adkisson Group. The buyer was represented by Sam Chang of Henry S. Miller.
LEANDER, Texas — Cushman & Wakefield arranged the sale of The Conley, a 259-unit apartment community in Leander, Texas, within the Austin MSA. John Carr and Ben Fuller of Cushman & Wakefield represented the seller, Stillwater Capital Investments, LLC, in the transaction. Beacon Real Estate Group acquired the property.
ROUND ROCK, Texas – NAI Partners recently arranged a 12,946 SF retail lease for Genuine Parts Company at 2000 Mays St. North in Round Rock, Texas. NAI Partners’ Joe DeCola represented the landlord.
FORT WORTH – AK Leasing Inc. has leased its industrial complex in west Fort Worth to Trucks & Parts of Texas, LLC, for its third location in the country. The Tampa, Fla.-based company has signed a long-term lease for a 16,825 SF industrial complex on nearly 3.7 acres at 6300 Interstate 20 in Aledo. Trucks & Parts is a major dealer of refuse trucks, and related equipment.
SAVANNAH, Ga.– Feit Electric, a global smart home and lighting manufacturer, has expanded its presence into the East Coast market with the acquisition of a 268,940 SF logistics center at 255 Declaration Drive in Henry County. Lee & Associates’ Craig Viergerver and Tyler Flemming represented Feit in the purchase of Declaration Logistics Center. The location, completed in February 2021, was developed by Crow Holdings and represented by Strategic Real Estate Partners’ JR Wright in the transaction.
NASHVILLE — Commercial real estate firm Lee & Associates announces the opening of a new satellite office in Nashville. It will specialize in industrial, office, investment and land brokerage, with plans to strategically recruit teams to grow their capabilities in the market. The Lee & AssociatesNashville team currently includes William Sisk, Brett Wallach and Chad Matthews. Lee & Associates’ Atlanta office will provide resources and assistance to ensure the Nashville office is well-supported during its initial start-up period.
MIAMI. — Following the successful launch of BulkCondoDeals in November 2020, the bulk condo marketplace has entered into its first international joint venture to capitalize on growing seller inventory and investor demand for bulk condo portfolios in Canada. The company has established an exclusive partnership with PMA Capital Solutions, the capital markets division of PMA Brethour Realty Group.
PHOENIX – Pathway Partners has sold its 117-unit Avalon Apartments in Phoenix for $23 million. Steven Nicoluzakis and David Fogler of Cushman & Wakefield brokered the transaction. Headquartered in San Diego, Pathfinder Partners was founded by Lorne Polger and Mitch Siegler
CLEARWATER, Fla. – Institutional Property Advisors, a division of Marcus & Millichap, has announced the sale of Bay Vista Gardens, a two-property, five-building office/flex portfolio in Clearwater, Fla. Douglas Mandel and Jaclyn Blair of Marcus & Millichap’s Tampa office, represented the seller, a joint-venture partnership led by Ryan Companies, US Inc., and procured the buyer, GBA 135 LLC, a joint venture between Genet Property Group and Biscayne Atlantic.
March 27, 2021 Realty News Report Copyright 2021
File: RNR Real Estate Briefs 2021
Photo: Waters at Westchase apartments in West Houston. Courtesy Elandis, a joint venture involving London-based M&G Investments and the Libra Group.
For more about Texas development, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon http://tiny.cc/4a2g6y